Macy’s launches in-store pop-up concept for brands
Macy’s has launched a new pop-up concept that allows brands and other companies to sell their products and services on the ground floor of the retailer’s stores.
The Market @ Macy’s is being pitched as a turnkey operational solution enabling companies to gain additional exposure to the department store’s customers without a long-term commitment. Those filling pop-up locations pay a fee to Macy’s for the space while keeping all the sales revenue. Space is rented with a one-month minimum requirement and rates are based on location.
Macy’s sales associates working at the Market will be dedicated to assist the pop-ups, a valuable service for companies with little or no experience working in a retail space. The package also includes marketing support by Macy’s via email and social media. A variety of fixtures are available to pop-up merchants through the store.
The initial launch of the concept will include pop-up space in Macy’s stores located in Boston, Detroit, Fort Lauderdale, New York, Las Vegas, Los Angeles, Pittsburgh, San Antonio, San Francisco and Seattle. Macy’s will decide after six months if it will expand the program to other locations.
“What we think makes this so attractive for Macy’s and our customers is it continues to drive customers to stores by giving a constant break of discovery,” Marc Mastronardi, EVP of new business development and innovation at Macy’s, told CNBC.
DISCUSSION QUESTIONS: Do you see The Market @ Macy’s as strictly a rental revenue grab for Macy’s or will it help store business, as well? Ultimately, will the concept prove successful for Macy’s and the companies that open pop-up shops inside its stores?